CSM to acquire Best Brands in the US
CSM today announces that it has reached an agreement to acquire Best Brands, one of the largest premium bakery manufacturers in the US market, for cash consideration of $510 million. The acquisition of Best Brands creates the undisputed market leader in the North American bakery supplies market with total sales in excess of $2.3 billion. The acquisition strengthens CSM's global leadership position in the segments and product categories that CSM has targeted for future growth, particularly in the in-store bakery market. The transaction, which is subject to regulatory review, is expected to be completed in March 2010.
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